August 18, 2022

How to Buy Polygon (MATIC) in Germany

Many investors are looking at buying Polygon to add to their cryptocurrency portfolios. However, it may be challenging to figure out where to buy this crypto from where you are in the world. Thankfully, this post is here to help German investors who want to buy Polygon but may be wondering which exchange platforms are the best to use.

EXMO

EXMO is an exchange platform with many different options for investors. However, the user interface has been made for more experienced and advanced traders.

How to Buy a Polygon Using EXMO

Many people can get an account with EXMO quickly to begin investing in Polygon as soon as they want.

Step 1 – Sign Up

First, the investor will need to create an account with EXMO. They will need to go onto the website and fill out a form with simple information like their username, password, telephone number, and email. Once this is done, a verification code will be sent to the telephone number.

Also, there will be a verification code sent to the email provided. The investor will need to input these codes into the website to activate their account.

Step 2 – Verification

When the account is activated, the user will need to verify their identity to be allowed to trade and have access to all of the features. EXMO will need information confirming where the user is living, their bank card, and a passport picture.

Step 3 – Start Buying

After the verification process has been completed, the investor will be able to deposit their funds and then buy Polygon. All they would need to do is search for it on the website and make a purchase.

EXMO Pros

  • Many payment options are accepted.
  • It supports 182 cryptocurrencies.

EXMO Cons

  • When withdrawing, it can be slow.
  • The deposit fees are higher compared to other sites.

Coinmama

Coinmama was founded in 2013 in Israel. More than two million people are using this platform for investment purposes. Also, this platform is available in over 180 countries.

How to Buy Polygon Using Coinmama

Before beginning, it is essential to note that two accounts are available when you sign up with Coinmama. Every investor will start with a Level One account and be invited to later create their Level Two account.

Step 1 – Create the Account

First, the investor must go to the website and create their account. They can fill out a simple form with their full name, email address, and country of residence. This form will then be submitted for verification.

Step 2 – Verification

A verification email will arrive once the form has been verified. After this, the investor will need to click on the link in the email and begin their verification process. They will need to fill in another form with information about them before uploading a picture of their ID. Afterward, they will need to upload a photo of them holding the ID and a sign that says ‘Coinmama’ and the date.

Step 3 – Add the Funds

Once the verification process is completed, the user will be able to add funds to their account. They can add their money with their debit or credit card, bank transfer, or other ways mentioned on the website.

Step 4 – Buy Polygon

Once the money has gone into the account, the user will be able to purchase Polygon from Coinmama and begin trading.

Coinmama Pros

  • Investors won’t be charged for deposits or withdrawals.
  • Many payment options are available.

Coinmama Cons

  • It does not allow crypto to crypto transactions.
  • There is no mobile app.

Kraken

Kraken was one of the first cryptocurrencies to come around, and it has helped millions of investors get the cryptocurrencies they want. It started in 2011 and is currently based in San Francisco.

How to Buy Polygon Using Kraken

It will only take investors a few steps to create their account with Kraken so that they can buy Polygon on the program.

Step 1 – Sign Up

First, the investor will need to sign up for an account on the website. They will only need to provide their email address, username, and password.

Step 2 – Verification

A verification email will be sent with a link inside. The user will need to click on the link to be taken back to the website to complete the verification process. Four different accounts give every trader different access to the features on the platform. If the user only wants a Starter or Express account, then they will need only to provide basic information.

Step 3 – Add Funds

After the verification process is complete, the investor will need to add their funds to their account. There are multiple payment methods available, and they also cater to each country.

Step 4 – Purchase

Once the funds have been added to the account, the investor can purchase Polygon easily. They will need to search for it in the search bar and select it. Once that is done, they can choose how much they want and buy it.

Kraken Pros

  • The non-instant buy fees are low.
  • There is a large product selection.

Kraken Cons

  • The instant buy fees are high.
  • Withdrawal fees are applied.

OKCOIN

OKCOIN helps many people buy, sell, and store their cryptocurrencies. This Chinese platform has allowed many investors to trade between USD and big-name cryptocurrencies like Ethereum and Bitcoin.

How to Buy Polygon Using OKCOIN

Opening an account is very easy, so people will be able to quickly get involved with the program and buy the Polygon that they want.

Step 1 – Create an Account

The investor will need to create an account with OKCOIN before they can buy Polygon. They will need to head over to the website and sign up with their phone number, Telegram, email, or Google account. Afterward, a verification email will be sent when it is time to complete the process.

Step 2 – Verification

When the verification email arrives, the investor will be able to go back to the website to complete this step. The verification process is different if the investor wants a personal or a corporate account. With a personal account, the investor will need only need to add proof of their residence and ID. However, the corporate account is longer.

Step 3 – Add Funds

The user will need to go to ‘Asset’ and click on ‘Deposit’ to add their money. They will then need to pick the currency they are using, but they will need to select ‘International’ because it is not being paid in USD.

After that, they will be able to add their bank details and transfer the amount of money they want into their account. However, they will be given a deposit ID number that they need to put in the reference number section when they transfer the money into their account.

Step 4 – Buy Polygon

Once the money has gone into the account, users will be able to buy Polygon from OKCOIN with ease through the user-friendly interface.

OKCOIN Pros

  • There are margins and future trading available.
  • The fees are low and competitive.

OKCOIN Cons

  • Traders will need to verify themselves for withdrawals.
  • There are not a lot of cryptocurrencies to choose from.

Binance

Binance has become one of the largest exchange platforms on the market. It was made in Hong Kong, but the headquarters have recently moved to Malta. It now has its coin that people can use to trade cryptocurrencies.

How to Buy Polygon Using Binance

Registering with Binance to purchase Polygon is not very hard, but it can be taxing for those who are not German citizens. This is because of the strict registration policies that Binance has.

Step 1 – Register

Investors will need to go to the website or the app and click on ‘Register.’ They will then need to provide the system with their email, password, and a referral ID if they have one. Once this is completed, the user will need to click ‘Create Account’ and wait for the verification email. Alternatively, they can use their phone number to create an account.

Step 2 – Verification

The user will need to move a puzzle piece into the correct position for the verification email or text to be sent. Once this is done, they will have 30 minutes to type in the verification code onto the website or app. Afterward, they will need to complete the verification process.

This is where Binance will want to know where the investor’s country of residence is, so they will need to take a picture of their passport and another form of photo ID. However, this can be tricky for immigrants living in Germany because there have been many reports that Binance has not figured out how someone can have a different passport to their immigration or driver’s license.

Step 3 – Deposit Funds

After the verification process has been successful, the investor can deposit money into their account. This can be down either on the website or the app and straightforward. Also, Binance does support multiple payment options, so there is a way to deposit the money that the investor needs.

Step 4 – Buy Polygon

The investor will need to search Polygon or MATIC on either the website or the app to make a purchase. They will be able to either buy the coin when another user is selling theirs at a specific price, or they can buy one right away.

Binance Pros

  • The non-instant and instant buy fees are low.
  • There is a huge selection of cryptocurrencies.

Binance Cons

  • Verification can be tricky and time-consuming.
  • The corporate structure is not transparent.

Conclusion

There are many platforms that people in Germany can use to purchase Polygon. With these platforms, investors will be able to diversify their portfolios the way they want to. However, if they are not a citizen of Germany, then they might not want to use Binance. Instead, they may want to use one of the other suggestions on this list because Binance can sometimes be difficult to work with.